Loan Application Process

How much home can I buy?

How much home you can buy depends on your credit score and your down payment on non-qualifying programs. Otherwise, it depends on your quality of credit and reported income.

DOCUMENTATION REQUIRED

If you are salaried or receive an hourly wage…

• W-2 forms for the past 2 years (computer generated)
• Pay stub(s) for most recent 30 day period (computer generated showing year-to-date earnings)

If you are self-employed or a commissioned salesperson…

• Federal tax returns (business & personal, signed & including all schedules) for the past two years-include W-2 forms if applicable.
• Pay stub(s) for most recent 30 day period (computer generated showing year-to-date earnings) * Profit & Loss Statement and Balance Sheet, if applicable (current, year-to-date, signed and dated) Verification of funds for closing.
• Complete depository account statements including stocks and securities for most recent 3 mo. period (passbook copies are not acceptable).
• Most recent complete retirement (IRA/Keogh/401K) account statement Payment history.
• Cancelled checks showing mortgage or rental payments
  for most recent 12 mo. period Miscellaneous.
• Divorce decree (if applicable)
• Social security card (FHA applicants).
• DD214 discharge papers and/or original Certificate of Eligibility (VA applicants).

Home Mortgage Process

The above information deemed to be correct, subject to changes, errors & omissions. 
        Copyright © 2021-2022 Real Estate International, Inc. All rights reserved.